BusinessJanuary 8, 2001
MEMO: WAL-MART PLANS FIRST STORE IN JAPAN
Wal-Mart Stores Inc. plans to open its first store in Japan as early as next year, joining a rush of big foreign retailers scrambling to set up shop in the world's second-largest economy, a Japanese business newspaper reported Monday. The world's largest retailer plans to form a Japanese subsidiary this summer and open a U.S.-style discount megastore as early as 2002, the Nihon Keizai newspaper said, without citing sources...
Wal-Mart Stores Inc. plans to open its first store in Japan as early as next year, joining a rush of big foreign retailers scrambling to set up shop in the world's second-largest economy, a Japanese business newspaper reported Monday.
The world's largest retailer plans to form a Japanese subsidiary this summer and open a U.S.-style discount megastore as early as 2002, the Nihon Keizai newspaper said, without citing sources.
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A Wal-Mart task force has already begun recruiting employees for a Japanese subsidiary and scouting sites for the store, the report said, adding that the company is expected to unveil its plans by June.
Wal-Mart spokesman Jay Allen said Monday that it's company policy not to comment on speculation about its business practices.
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